Price trend analysis conclusion: ETH staged a closing trend yesterday, history repeats itself, quickly falling in the evening to around 4311, forming a bottom divergence, with the hourly Candlestick showing a head-and-shoulders reversal pattern. There is a rebound demand in the hourly cycle during the day, with the upper resistance levels at 4500 and 4600.

Candlestick pattern:
1-hour level: Recently, a V-shaped Rebound pattern has appeared, quickly rising from the low of 4331 to the high of 4451, forming a short-term bottom structure. At 09:00, a long bullish Candlestick broke through the previous high of 4422, but at 10:00, it closed with a long upper shadow, indicating selling pressure in the 4450 area.
Daily level: On August 25, a large bearish candlestick with a long lower shadow was formed (4797→4334). On the 26th, a rebound continued but did not recover the EMA30 (4553), forming a rebound structure during the decline. The previous low of 4334 and the intraday low of 4311 constitute a double bottom prototype.
Technical Indicators:
MACD: The double lines on the 1-hour level have golden crossed below the zero axis, but the DIF (-85.91) is still deeply entrenched in the negative value area. After the death cross at the daily level, the histogram continues to shrink, indicating that bearish momentum is weakening but has not reversed.
RSI: The 1-hour level rebounded from the oversold zone of 26.15 to 39.08, still below the middle line; the daily level at 55.04 is in a neutral weak area, without forming a divergence signal.
EMA: Price rebound is constrained by the 1-hour EMA30 (4553) and EMA120 (4578) confluence resistance level. Currently, 4432 is above EMA7 (4415), and the short-term moving averages are flat but have not formed a bullish arrangement.
Trading Volume:
Key period: At 04:00, the trading volume during the fall reached 94807 (recent peak), and at 09:00, the rebound volume was only 46912, which is 50% of the peak, indicating insufficient rebound momentum.
Daily volume: After the surge of 1.04 million on August 25 (the second highest of the year), the volume decreased to 120,000 on the 26th, in line with the characteristics of volume and price recovery after a sharp fall. #ETH#